V 
STATEMENT  made  to  the  Council  by  the  Chairman 
of  the  Finance  Committee,  on  presenting  the 
Accounts  for  the  year  1910. 
Mr.  Adeane,  on  behalf  of  the  Finance  Committee,  presented  the  audited 
accounts  for  the  year  1910.  Taking:  first  the  statement  of  ordinary  income  and 
expenditure,  their  total  expenditure  last  year  was  8,872/.,  showing'  an  increase 
of  516/.  over  the  preceding-  year.  That  increase  was  mainly  accounted  for  by 
the  cost  of  the  trials  of  agricultural  motors,  which  had  been  somewhat  heavy 
amounting-  to  508 /.  The  income  of  9,335/.  for  last  year  showed  an  increase  over 
the  previous  year  of  3831.,  which  was  due  to  a larger  receipt  from  investments 
and  an  increased  membership.  The  credit  balance  for  the  year  had  been 
4621. 13s.  5 d. 
If  they  turned  to  the  balance-sheet,  it  would  be  noticed  that  the  capital  of 
the  Society  on  December  31  last  stood  at  56,375 /.  In  1909  it  was  47,7171.  He 
thought  the  Council  would  agree  that  the  most  satisfactory  part  of  the  balance- 
sheet  was  to  be  found  in  the  figure  which  represented  the  Reserve  Fund.  If 
they  took  the  figure  at  which  it  stood  in  the  balance-sheet  (49,6001.)  and  added 
the  sum  of  6001.,  which  it  was  proposed  that  day  to  place  to  reserve,  that  would 
give  them  the  total  sum  of  50,2001.,  which  was  the  amount  they  had,  or  were 
going  to  have,  invested  in  Consols  to  form  their  Reserve  Fund.  In  addition, 
the  Society  had  in  the  last  five  years  paid  for  the  lease  of  its  house  and  for  the 
building  of  the  Council  chamber,  which  together  cost  about  3,0001.  It  might 
interest  them  to  know  how  their  Reserve  Fund  had  been  accumulated.  The 
net  profit  in  the  Shows  for  the  last  five  years  was  22,6211.  They  had  accumu- 
lated 11,1731.  from  the  ordinary  account  against  losses  on  Shows;  from  dona- 
tions, life  compositions,  and  credit  balances,  8,2331.;  and  from  the  surplus 
which  remained  from  the  sale  of  Harewood  House,  Park  Royal,  and  from 
other  sources,  11.2251.  He  thought  the  Council  would  agree  that  that  was  not 
a bad  accumulation  in  just  over  five  years,  and  that  it  showed  that  the  Society 
was  possessed  of  a certain  amount  of  recuperative  power.  But  while  those 
accumulations  had  been  going  on  they  had  not  been  in  any  way  niggardly  in 
their  expenditure  : in  fact,  he  would  be  able  to  show  that  they  had  increased 
very  largely  the  expenditure  which  was  greatly  reduced  five  years  ago.  It 
would  be  remembered  that  at  that  time  the  Council  not  only  considerably- 
reduced  the  Staff  of  the  Society,  but  reduced  the  salaries  of  those  who  remained. 
It  was  a satisfaction  to  the  Council  to  feel  that  as  soon  as  they  had  been  able 
to  afford  it  the  Staff  had  been  put  back  on  the  footing  of  their  old  salaries. 
In  1909  salaries  were  increased  by  72 /.  a year;  they  had  increased  the  grant  to 
the  Veterinary  Committee  by  200/.,  pensions  by  100/.,  and  the  grant  to  the 
Journal  Committee  by  100/.  It  would  be  remembered  that  the  contribution  to 
the  Show  Fund  for  prizes  was  reduced  five  years  ago  to  4,000/.  When  the 
Society’s  financial  position  improved  they  had  increased  the  grant  to  5,000/., 
and  now  the  contribution  was  5,500/.  Adding  these  increases  together,  their 
expenditure  had  increased  by  the  sum  of  1,972/.  a year. 
Forecast  op  Ordinary  Receipts  and  Expenditure  for  1911. 
(Other  than  in  respect  of  the  Show.) 
Prepared  by  direction  of  the  Finance  Committee  on  the  basis  of  the  recommend- 
ations of  September  21, 1905,  made  by  the  Special  Committee. 
Actual 
Figures 
for  1910.  Receipts. 
£ £ 
7,283  From  Subscriptions  for  1911  of  Governors  and  Members 7,900 
1«5  Frqm  Interest  on  Daily  Balances 100 
1,118  From  Interest  on  Investments 1,400 
229  From  Sales  of  Text  Book,  Pampblets,  &c.  (This  does  not  include  the  sales 
of  Journals,  which  are  deducted  from  the  cost  of  production)  . . . 250 
9.335 
9,650 
